$29.90 Million in Sales Expected for First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) This Quarter
Brokerages expect First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) to report sales of $29.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for First Mid-Illinois Bancshares’ earnings. First Mid-Illinois Bancshares posted sales of $22.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is scheduled to report its next earnings report on Friday, August 4th.
On average, analysts expect that First Mid-Illinois Bancshares will report full-year sales of $29.90 million for the current fiscal year, with estimates ranging from $118.70 million to $122.20 million. For the next financial year, analysts expect that the company will post sales of $125.75 million per share, with estimates ranging from $122.90 million to $128.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover First Mid-Illinois Bancshares.
Several analysts recently weighed in on FMBH shares. Zacks Investment Research downgraded First Mid-Illinois Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. DA Davidson began coverage on First Mid-Illinois Bancshares in a report on Friday, June 9th. They issued a “neutral” rating and a $37.00 target price for the company.
Shares of First Mid-Illinois Bancshares (FMBH) traded up 0.74% during mid-day trading on Friday, reaching $35.48. The company had a trading volume of 11,780 shares. The company has a market cap of $443.07 million, a price-to-earnings ratio of 17.27 and a beta of -0.09. First Mid-Illinois Bancshares has a 52-week low of $22.95 and a 52-week high of $37.78. The firm’s 50-day moving average price is $34.43 and its 200 day moving average price is $33.40.
In other First Mid-Illinois Bancshares news, Director Steven L. Grissom sold 1,100 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $37.00, for a total value of $40,700.00. Following the completion of the transaction, the director now owns 69,796 shares of the company’s stock, valued at approximately $2,582,452. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael L. Taylor sold 2,983 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $33.23, for a total value of $99,125.09. Following the completion of the transaction, the chief financial officer now directly owns 8,778 shares of the company’s stock, valued at approximately $291,692.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,083 shares of company stock valued at $678,457. Insiders own 20.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new position in shares of First Mid-Illinois Bancshares during the first quarter worth about $903,000. Dimensional Fund Advisors LP boosted its position in shares of First Mid-Illinois Bancshares by 46.5% in the first quarter. Dimensional Fund Advisors LP now owns 29,605 shares of the bank’s stock worth $1,002,000 after buying an additional 9,395 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of First Mid-Illinois Bancshares by 5.9% in the first quarter. Geode Capital Management LLC now owns 66,257 shares of the bank’s stock worth $2,242,000 after buying an additional 3,701 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of First Mid-Illinois Bancshares by 2.1% in the first quarter. Vanguard Group Inc. now owns 265,907 shares of the bank’s stock worth $8,998,000 after buying an additional 5,445 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of First Mid-Illinois Bancshares by 55.4% in the first quarter. Wellington Management Group LLP now owns 590,440 shares of the bank’s stock worth $19,981,000 after buying an additional 210,458 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/09/29-90-million-in-sales-expected-for-first-mid-illinois-bancshares-inc-nasdaqfmbh-this-quarter.html.
First Mid-Illinois Bancshares Company Profile
First Mid-Illinois Bancshares, Inc is a financial holding company. The Company is engaged in the business of banking through its subsidiaries, First Mid-Illinois Bank & Trust, N.A. (First Mid Bank) and First Clover Leaf Bank, N.A. (First Clover Leaf Bank). The Company provides data processing services to affiliates through another subsidiary, Mid-Illinois Data Services, Inc (MIDS).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Mid-Illinois Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Mid-Illinois Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.